New investment policy to make the state IT hub

Bhopal: The cabinet approved state’s new Information Technology Investment Policy-2012. Its objective is to augment investment in information technology industries in the state, create maximum job opportunities for state’s youths direct or indirect, increase opportunities of development and basic infrastructure in towns and promote establishment of information technology units in information technology parks/investment zones.
As per the policy, land will be allotted to information technology companies at 25 percent of the collector guideline rate for upto 99-year lease. Each company will have to provide jobs to 100 IT/ITES professionals per acre, 50 percent of which will have to be provided for people of Madhya Pradesh. The State Government will reimburse 50 percent cost of imparting skill gap training to IT professionals of Madhya Pradesh upto a maximum limit of Rs. 10 thousand per personnel.
Labour laws in the state will be liberalized for information technology units. The companies will be permitted to operate 24×7 hours and in three shifts. Exemption for five years on entry tax will be given to IT products used in software and hardware manufacturing units.
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